LITE vs VXZ: Correlation
How closely do Lumentum (LITE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LITE and VXZ?
Across a 3-year window, the weekly returns of LITE and VXZ correlate at -0.46, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.22) runs above the 3-year figure (-0.46). Stretching to 5 years gives -0.44, with an annualized covariance of -776.5 %².
VXZ is close to the least connected end of LITE's tracked universe, ranking #33 of 34. Correlation aside, the last 12 months split them widely, with LITE ahead by 675.9 points (+659.8% versus -16.1%). Risk is not evenly split, since LITE carries 2.6 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
LITE vs VXZ: side by side
| LITE (Lumentum) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +659.8% | -16.1% |
| 5-year return | +998.1% | -53.1% |
| Volatility (ann.) | 65.5% | 25.6% |
| Beta vs S&P 500 | 2.36 | -1.31 |
| Max drawdown (3Y) | -50.6% | -36.4% |
| Market cap | $85.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | LITE | VXZ |
|---|---|---|
| 2022 | -50.7% | +0.5% |
| 2023 | +0.5% | -44.0% |
| 2024 | +60.1% | -12.7% |
| 2025 | +339.1% | +5.7% |
| 2026 | +159.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LITE and VXZ good diversifiers for each other?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LITE and VXZ?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.22 over the last year and -0.44 over 5 years.
Is VXZ a good diversifier for LITE?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.46 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lite-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lite-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LITE correlations · VXZ correlations
